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UW Researchers Report Price Data After Seattle’s Minimum Wage Increase

joG said:
That is not a legitimate conclusion. I don't feel like explaining leads and lags or that the impact of price increases of factors can differ widely. But, the conclusion here is that a biased opinion is being supported by false statistics.
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Sure it is. Rents in Seattle are soaring.
 
Absentglare said:
Minimum wage was increased and catastrophe did not occur.
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Min wage was increased , but not increased fully yet and unemployment has went up.. see I can do it too.
 
TheDemSocialist said:
So prices went up in restaurants located in areas outside Seattle because of Seattle reached their minimum wage.???.... Even though in all other areas of employment other than restaurant industry prices were stable....???...??
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Technically it's possible, employees could be taking jobs in Seattle due to the higher pay, forcing those outside to increase wages to avoid losing quality employees (the other option is to hire lesser quality people).

Not that it's happening, just technically it could happen. Though likely mostly at higher end places that may have already been offering comparable or better wages to begin with.
 
TheDemSocialist said:
[/COLOR][/FONT]

[FONT=Lato, Helvetica Neue, Helvetica, Helvetica, Arial, sans-serif]Read more @: [/FONT]UW Researchers Report Price Data After Seattle’s Minimum Wage Increase

[FONT=Lato, Helvetica Neue, Helvetica, Helvetica, Arial, sans-serif]Spoiler, they didnt much change. Seattle restaurant prices increased 7-8% (wohooo a burger now costs $8 instead of $7.50 [/FONT]:sarcasticclap[FONT=Lato, Helvetica Neue, Helvetica, Helvetica, Arial, sans-serif]), but there is question if that is associated with the minimum wage increase because restaurant prices also rose outside of Seattle and are thought to be a broader phenomenon that is tied to rising rent and ingredient prices. The draconian predictions of raising the wage still not coming true. Its time to raise the wage nationally [/FONT]:2razz:
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That's just empirical research. Mises says otherwise.
 
ludin said:
no it is just way to soon to measure out why prices haven't increased.

there are several other factors that could be impacting that as well which that report failed to acknowledge.
such as workers working less hours.
or people being laid off.

Forbes Welcome

Are Higher Minimum Wages Eliminating Restaurant Jobs? - The Atlantic

great if you have a job or keep it.
bad if you are looking for one or are just starting out.
people aren't going to hire you.
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It could just be being offset by the multiplier as money flows up through a couple layers instead of going straight out of the community to corporate headquarters.

Our economy really is based on consuming. More money equals more consumption.

(It is too soon to tell, but I suspect its gonna be a pretty mild bump with a larger bump in quality of life for a lot of people.)
 
KevinKohler said:
The CEO and upper management will, in the form of slightly lower profit margins.


Typically, yes, prices do and in this case, WILL go up. They will. But not at the same rate as minimum wage increases. Competition will force prices down. So, the consumer will take a SLIGHT hit, but will, in turn, enjoy a more robust economy, and all that that implies. The producer/owner will also take a slight hit, but will enjoy a more robust economy, and all that that implies.

As minimum wage increases, and costs increase slightly, spending WILL go up. Not just due to increased prices, but due to increased consumption.

Where OUR issue lies is where do those dollars from increased consumption end up. If I'm a MW earner, and I get a decent raise, and I'm looking to treat myself with something, maybe I decide to buy a new computer, or a newer TV.

Where do those dollars go? Do they stay in the country, in OUR economy, or do they go to enrich ANOTHER country, ANOTHER economy?
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Or will they disappear into the Wall Street casino economy, never to be seen in the general economy again.
 
What if...? said:
It could just be being offset by the multiplier as money flows up through a couple layers instead of going straight out of the community to corporate headquarters.

Our economy really is based on consuming. More money equals more consumption.

(It is too soon to tell, but I suspect its gonna be a pretty mild bump with a larger bump in quality of life for a lot of people.)
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not really because those people found out that well now that they are making 15 an hour and working so many hours.
they lose their government benefits. now they want to work less hours so they can keep them.

great if you have a job. kinda sucks if you are new to the market and have no job skills. good luck finding a job.
 
Top Cat said:
Sure it is. Rents in Seattle are soaring.
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rent in seattle was high to begin with I do believe.
yet with the 15 a month wage now rentee's know that people have more money
they are going to charge more for the same place.

plus they have probably had to increase their wages on their employee's as well because
they weren't making 15 an hour before.

then the person that manages the property wants a pay increase because those people got one.

something that people forget is economic scaling. if two people making 10 are now making 15. the person making 13 or 14
wants an equivalent raise as well.

it is too earlier to tell what the end result will be.
however less job
and higher prices are usually the result of these types of things.
 
ludin said:
not really because those people found out that well now that they are making 15 an hour and working so many hours.
they lose their government benefits. now they want to work less hours so they can keep them.

great if you have a job. kinda sucks if you are new to the market and have no job skills. good luck finding a job.
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Not really sure that's a response to my point.
 
ludin said:
rent in seattle was high to begin with I do believe.
yet with the 15 a month wage now rentee's know that people have more money
they are going to charge more for the same place.

plus they have probably had to increase their wages on their employee's as well because
they weren't making 15 an hour before.

then the person that manages the property wants a pay increase because those people got one.

something that people forget is economic scaling. if two people making 10 are now making 15. the person making 13 or 14
wants an equivalent raise as well.

it is too earlier to tell what the end result will be.
however less job
and higher prices are usually the result of these types of things.
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Its sad that we have adopted the practice of Americans "feeding" off other Americans when the world filled up and our capitalists couldn't feed off other countries anymore because local ones took over.

Way too much extractive parasitic fiscal activity going on.

Not going to end well.
 
From the research paper you cited (highlights are mine)
https://evans.uw.edu/sites/default/files/HOvIV 1-27-16.pdf

6. Conclusion
This study has described the Seattle minimum wage increase and plans to evaluate it as it is phased in over the next several years. The vast majority of this analysis is yet to come; employers filed the first post-increase quarterly employment and earnings reports in July 2015 and these data will become available to us in early 2016. The study team is under contract to produce an initial impact study for the City of Seattle in mid-2016.
21
As effects of the minimum wage may only be felt after a time lag, owing to delays in business adaptation involving capital investment, and also to the stepped nature of the increase to $15 in Seattle, we have little reason to think that our initial impact assessment will adequately capture the full impact of the minimum wage ordinance. As some employers will have until 2021 to fully adapt to higher wages, the complete impact of the $15 minimum wage in Seattle may not be known for nearly a decade.
Understanding the impact of a minimum wage increase in Seattle may also provide little insight as to the prospective impact of comparable wage increases in other economic contexts. Seattle is an affluent city, with one of the lowest poverty rates of any large metropolis. After Seattle passed the minimum wage ordinance, calls to raise the wage were issued in cities ranging from St. Louis to Birmingham – regions bearing limited economic resemblance. The minimum wage study’s efforts to apply comparable methods in a range of locations, from states to cities, aims to build an understanding of the contextual determinants of the minimum wage’s impact.
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It's too easy to skim through a newspaper article and draw the wrong conclusion.
 
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